Close Close
ThinkAdvisor

Portfolio > ETFs > Broad Market

The Fortune Group and Simon Nocera to Open an Emer

X
Your article was successfully shared with the contacts you provided.

LONDON (HedgeWorld.com)–The Fortune Group and Simon Nocera will open an emerging markets hedge fund called the Lumen Global Value Fund as part of Fortune’s emerging managers program.

Scheduled for a Feb. 1 launch, the fund will be managed by Mr. Nocera using long and short positions in emerging market debt, equity and currencies. Mr. Nocera previously was a managing director and co-chief investment officer of emerging markets at Dresdner RCM Global Investors, according to a Fortune statement.

More on this topic

Mr. Nocera will rank emerging markets on structural inefficiencies and cyclical conditions, using that to spot what he believes are price discrepancies in emerging market-related securities, the statement said. Two other professionals will be working with Mr. Nocera on management of the fund.

The minimum to invest will be US$1 million. The fund will charge a management fee of 1.5% and a performance fee of 20%, said spokeswoman Charlotte Morita. The probable prime broker is Credit Suisse First Boston, she said. The legal counsel is Ropes and Gray, New York